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and the growth of the economy, we're still some distance from the high. it is not all that surprising the stock market would rise given that has been increased optimism about the economy and the share of income going to profits has been very high. relationship between stock prices and earnings is not particularly unusual at this point. >> the associated press. mr. chairman, statement mentions fiscal policy has become more restrictive. how much of a drag do you see from the social security tax increase and the across-the-board spending cuts that went into effect on march 1 and is it possible the fed might see a need to provide more support to the economy because of that drag on the fiscal? >> our analysis is fairly comparable to analysis congressional budget office presented to the congress and thestimate put together the fisl measures including the fiscal cliff deal, they sequester and other cuts that federal fiscal restraint in 2013 is cutting something like 1.5 percentage points off of growth to which is very significant. so that is an issue for us. we take as given with the fiscal authoritie
are seeing now is basically trying to achieve a dynamic in the economy that is unsustainable long-term and therefore we come to the detriment of future generations and therefore i am quite concerned that keeping monetary and fiscal policies very loose for an unsustainable long period of time might generate numbers we see now that looks good for current generations but actually come at the expense of future generations. i'm quite concerned in whether we are really trying to counter something that would look at as being typical, but if it is more structural would look to a lot of stimulus at it and undermine the future. i'm quite concerned about that aspect of what we are doing. >> thank you. >> i think you have it right. he spoke of allowing people to have higher living standards, more choices in their lives and a little bit more comfortably. i can't resist taking the opportunity though to disagree with the broad spirits of his last comment. i do not leave the long run can be seated to the avatars of austerity. i am the father or stepfather of six children and on their behalf i am
, ceo and president joins me from new york in a fox bids exclusive. you are bullish on the economy. i want to be there, and there's a mixed bag here, unemployment, 7% to 8% range, forecasted for the year. housing, a little bit of a concern here from economists that the housing market is ahead of itself, but, still, bullish on the u.s. economy, so explain that. >> yes, thanks, cheryl. we are bullish on the u.s. economy, housing continues to come back. you saw the numbers today, but, you know, it's still 15, 20, 25%, spending where you are, in the u.s. 30% where it was at its peak. you know, household formation in the last few years has been delayed because of americans deciding to live with their parents, essentially, but population growth continues. bullish on the housing market driving quite of other consumer demand. cheryl: are you changing your asset allocation mix now? is that something you're in the midst of doing, especially on a day like today and yesterday when there seems to be a lot of money moving around, not a lot of new money, but money moving nonetheless. >> we're not ch
it. because then started to address that earlier. it is going to be because the economy is doing better. we will start to see some true growth. connell: we may have addressed it with ben bernanke. [laughter] what are your thoughts? i am sure the currency and trade affects everything that is going on out there. the different markets you are following at imax, giving issues that we are to just? >> right now we are not strong in crude oil. it is surprising if the issues are not something that could affect other areas in europe. this could be a huge bearish move for crude oil coming on. it's interesting to me that we rent out so strong. what i'm looking for is that we have to break 94 and 10 level. however, right now though, short-term, bullish. long-term, very bearish. >> it sounds like this may be the most cautious about what is happening as we head into next week. going back to ben, what about heading into next week? we do have that deadline we will talk about later. >> i don't think cypresses anywhere near as important as the european union. i am looking for a pullback. but it's
'll have a long-lasting impact on our economy. we've been dealing with a lousy europe for a long time. but you'll have this pullback at 5 percent which is about 1484 and 7% at 53, i might consider getting back in, but i'm not doing it until then. cheryl: looks like europe doesn't have a plan, obvious. let's go to the nymex, jeffrey grossman. jeff, let's talk about the oil contract. one of things we saw today again was the safety of the u.s. dollar. you had traders around the world jumping into the dollar. your take. >> today was really a dream come true in many respects. we walked in this morning, the dollar was very strong, took our market down right to the support level. 91.75 and spot crude was a major support level on the way down. the minute the dollar weakened, came off those highs a little bit, market rallied right pack to where the resistance levels are which is in the high 93.85 to $94 level. it's behaving like a normal market really with a little input that came in from the european information here, but the truth of the matter is this is a market that still, again, is a sal
. cheryl: ideal economic environment, you're looking at the economy even though we had kind of a mixed picture today and then, again, corporate valuations. that's the bulls' side of this. john, i know you're bearish. you're calling for serious corrections on the s&p and dow. you're saying it's going to happen sooner rather than later. what are you seeing on the other side of the coin here? >> well, look, when things are euphoric, which they are, when alan greenspan comes out and says pie stocks along with the movie stars and, of course, our good friend, ned, then you should be looking to sell. and i'd also like to say this, i was on the show here last april 2012, we were pounding the table then, but right now you've got some real headwinds, and i'll give you a few of them. one, gdp is benign, .1%, you know, in fourth quarter of 2012. analyzed numbers are running around 2%, it just isn't keeping up. unfortunately, the treasury market is not confirming here. you know, if the ten-year was at 275, i'd say we'd probably leg up here, not happening. you know, and i think, thirdly, look at ear
Search Results 0 to 5 of about 6

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